World Bank pegs India’s 2021/22 economic growth at 8.3%

India’s growth for FY 2021/22, which began in April 2021, is forecast at 8.3%, supported by plans for higher spending on infrastructure, rural development, and health, and a stronger-than-expected recovery in services, the World Bank said. “Better growth prospects since January, however, masks significant damage to economic activity from COVID19. The economy is expected to […]

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Rural sector leads India’s green shoots of economic recovery – report

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India’s beleaguered economy, led by the rural sector, is seeing green shoots recovery after easing of the covid-induced nationwide lockdown, according to the Confederation of Indian Industry (CII). Unlike previous years when recessions were triggered by the failure of monsoon, the current year stands in complete contrast  when the June-September seasonal rainfall is expected to […]

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India’s economic growth seen contracting by 3.2% in fiscal 2020/21 – World Bank

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India’s economic growth, which is estimated to have slowed to 4.2% in financial year 2019/20, which ended in March, is projected to contract by 3.2% in 2020/21 when the impact of the coronavirus pandemic will largely hit, the World Bank said in a report. The Indian government ordered a complete national lockdown in late March […]

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Exports, domestic demand, deliver solid growth in Asia and the Pacific, says ADB

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Growth picked up across most of the economies in developing Asia, supported by continued high demand for exports and rapidly expanding domestic demand, a new Asian Development Bank (ADB) report said. In its new Asian Development Outlook (ADO) 2018, ADB forecasts gross domestic product (GDP) growth in Asia and the Pacific to reach 6.0% in 2018 […]

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Global economy to expand at fastest pace since 2010; IMF says opportunity to secure recovery

The global economy is expected to turn in the best growth in six years, IMF Managing Director Christine Lagarde told the G-20 economists and finance professionals, adding that this offered everybody a major opportunity to secure and expand its recovery. IMF forecasters expect the global economy to expand 3.6 percent this year, the fastest pace […]

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Better but not good enough, OECD says of the global economic growth in latest outlook

The global economy is expected to pick up moderately but greater efforts are needed to ensure that the benefits from growth and globalisation are more widely shared, according to the OECD’s latest Economic Outlook. “After five years of weak growth, there are signs of improvement,” OECD Secretary-General Angel Gurría said while launching the Outlook during the […]

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Global growth shows resilience to political uncertainty – Fitch Ratings

The near-term outlook for growth in the advanced countries has improved despite persistent political uncertainties, Fitch Ratings said in its latest Global Economic Outlook (GEO). “Robust labour markets and consumer spending, more supportive fiscal policies and the stabilisation in emerging markets helped advanced country growth recover in the second half of 2016,” said Brian Coulton, […]

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